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August 27, 2006

Mixi Is Japan's Answer to MySpace

posted by MR WAVETHEORY at 8/27/2006 11:42:00 PM

Mixi is going public. The company, which is Japan's answer to MySpace, is scheduled to list on the Tokyo Stock Exchange's Mothers market for start-ups on Sept. 14, according to the WSJ. The price will be hefty 1.55 million yen ($13,214) per share! But expect shares to be hot, because Mixi is very sticky.

Its page views in July were second only to those of Yahoo, according to Nielsen/NetRatings, a company that analyzes online user patterns -- and users spent more time on mixi's site than Yahoo's. Nielsen says the average mixi user visited 681 times during the month, spending about four hours and 16 minutes, compared with 586 visits and three hours and 26 minutes for the average Yahoo user.

Is Mixi profitable?
Apparently so. Mixi had net profit of 576 million yen on revenue of 1.9 billion yen in the fiscal year that ended March 31 of this year - mostly from its job site.

Not bad for an upstart!

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